Flight Instructor on training flight with student reported runway excursion on landing.

Narrative

I was scheduled to fly with a student pilot from XA00 to XC00. The planned flight was to stay in the traffic pattern at ZZZ1. If his performance was good; I was going to exit the plane and go to the tower to observe his first solo flight. Preflight actions were completed in accordance with 14CFR 91.103. We use the acronym NW KRAFT prior to every flight. The weather indicated Runway XXR would be favored with a crosswind of approximately 3 kts. Preflight was straightforward. The learner confidently ran the checklists; contacted Ground Control; and we taxied to the run-up area on Taxiway X prior to Runway XXL. While doing run-up; an aircraft landed Runway XXR; and was disabled on the runway. Other landing aircraft were redirected to XXL. Given that the shorter runway would not be ideal for a first solo scenario; we changed plans to depart to ZZZ.We departed ZZZ1 at approximately XA12. We climbed to 3500 ft. and turned direct to ZZZ after completing the climb and cruise checklists. We listened to the ASOS; the wind favored Runway XX with approximately 5 kts. right crosswind. We switched to common traffic. There was an aircraft in the traffic pattern for Runway XX. We descended to traffic pattern altitude of 3200 ft.; and entered left downwind as the other aircraft was turning left base to final. Flaps were extended when abeam the numbers for Runway XX. A normal descent was not initiated immediately; and the aircraft was high on left base and final. As a result; power was reduced to lose altitude while also pitching up to decrease airspeed to the goal of 80 KIAS on final. The aircraft was above glide slope at the numbers and slightly left of center line. Power was advanced to smooth the descent in the flare transition; but the addition power with insufficient airspeed; and inadequate right rudder caused the aircraft to bounce and veer left - it was clear that if the aircraft touched down again it would be to the left of the runway. It was at that point that I took controls; lowered the nose; and applied full power in an effort to go around. The stall indication sounded; so I lowered the nose more; but there was not enough power; time; and airspeed to prevent the aircraft from touching down to the left of Runway XX. I believe the left main gear and wing tip struck the ground; and then the right main gear; which was displaced from the aircraft. The aircraft came to rest on the right wing and horizontal stabilizer approximately 2800 ft. down and 150 ft. left of Runway XX.Initially after the aircraft came to rest; I ensured that the learner and myself were not injured. Next; the fuel flow to the engine was terminated by reducing the throttle to idle and the mixture to cutoff. The ignition was turned to off. I next tried to call the Chief Pilot and Chief Flight Instructor for guidance. They were not immediately available. While waiting for a callback; I called the Maintenance number and was transferred to the Chief Mechanic. I explained the situation and he said he would start by contacting someone at ZZZ for assistance. I was in the process of finding ZZZ Approach's phone number when the Chief Pilot called back and gave initial guidance. He agreed with calling ZZZ Approach. He also instructed to take pictures; which I did. ZZZ Approach took my information and arranged for the Fire Department to assess. They also closed Runway XX/XY by NOTAM. Many local people from ZZZ came to help. The firefighters; Maintenance head; Chief Pilot; and mechanic; and ZZZ locals worked to mobilize Aircraft X and bring the aircraft to a local hanger.On a professional improvement note; my takeaway from this event is to not tolerate variance from standard. In retrospect; I have been able to talk learners through imperfect approaches to landing. That may be satisfying to the learners in the short-term; but is detrimental to their ability to make adjustments independently. In the future; if the learner is unable to adhere to the aircraft's standard; I will expect them to go around and try again. I will expect them to make that decision based on the correct altitude; airspeed; power setting; glide slope; and being locked onto centerline of the runway. If they do not make that decision themselves; I will either tell them to go around or perform it myself; and ensure positive transfer of learning has occurred.